LONDON--(BUSINESS WIRE)--The global garden and lawn tools market is expected to post a CAGR close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing number of product launches. At present, several vendors are trying to attract end-users by introducing new variants of garden and lawn tools, wherein they integrate additional features in their new products to provide cost-saving benefits to the end-users. For instance, in February 2019, Husqvarna launched the new Automower, which is a robotic lawnmower. The new fully autonomous robotic lawnmower is designed to manage rough terrains and slopes. It also has a remote object-detection feature. Thus, the increasing availability of new products may encourage more end-users to invest in garden and lawn tools and drive the growth of the global market during the forecast period.
As per Technavio, the rising demand for smart gardening will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global garden and lawn tools market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Garden and Lawn Tools Market: Rising Demand for Smart Gardening
Smart gardening practices refer to the incorporation of smart devices to perform gardening activities. Technological advances enable end-users to make gardening simpler and ensure on-time maintenance. Through smart gardening, end-users can receive alerts to add nutrients and water to the plants on time. They can also get data related to weather. These benefits offered by smart gardening may encourage more end-users to adopt smart gardening practices during the forecast period. The growing inclination of end-users toward smart gardening has encouraged vendors to develop innovative tools that can be integrated with smart gardening. For instance, in January 2019, iRobot Corp. (Robot) announced the launch of Terra robot lawnmower. The equipment can be connected to iRobot's HOME App, and end-users can adjust the operation of the equipment through the app. Therefore, such advancements may encourage vendors to develop robotic garden and lawn tools, which will increase the sales of such equipment and accelerate the growth momentum of the market during the forecast period.
“Apart from the rising demand for smart gardening, the rising demand for lawn care services and the growing popularity of vertical gardens are some other factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Global Garden and Lawn Tools Market: Segmentation Analysis
This market research report segments the global garden and lawn tools market by product (lawnmowers, power tools, hand tools, garden accessories), by end-user (residential and commercial) and geographical regions (North America, Europe, APAC, South America and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America and MEA America respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the garden space expansions and the growing inclination toward gardening activities in the region.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
